Anyone IRS savvy? - Chevelle Tech
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post #1 of 24 (permalink) Old Jan 17th, 19, 9:54 PM Thread Starter
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Anyone IRS savvy?

I think these guys hate me. Been issued 3 IRS adjustments in the last 2 years. First 2 were found to be the gov's fault or miscalculations, the third is also, but it's yet to be resolved. Even though I've sent them everything they needed to prove my calcs are correct, they keep sending me bills and threatening fines and of course interest. Every "bill" is just another copy of the last without any human response to the facts I've provided. Also, anytime I've called them it wastes well over an hour of my time. Last time they simply mailed me a bill and stated it's due to my calcs being incorrect, that's it. I called and asked what specifically the issue was, and the lady said she wasn't going to go over ever line item of my return....WTF! How was I to know what to correct?? She huffed and returned back 5 minutes later to tell me what it was. I responded verbally AND in writing to explain and provide receipts of valid deductions. Not sure what to do because of the gov. shutdown. Should I just feel I've done everything possible and ignore the new bill? It's not a ton of money this time, basically the price of a roller cam but anytime I get a bill from these guys it causes stress.

Last edited by davewho1; Jan 19th, 19 at 3:20 PM.
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post #2 of 24 (permalink) Old Jan 18th, 19, 1:09 AM
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Re: Anyone IRS savy?

First thing to do is file an extension. If you owe, rather than getting a refund, you still need to pay an estimate of what you owe. But mainly, it takes you to Oct. 15 to file your taxes. FWIW, my accountant files an extension every year, regardless.

As far as dealing with IRS people it's been an issue for over a decade. Regardless of politics, the last ACA added a lot of processes to the IRS and the current headcount freeze and 2:1 regulatory situation has limited things as well. All in, the IRS is not a competitive business. Thus you are stuck going through the process of calling an talking to people.

I understand that it takes lot of time to be on hold, explain stuff and so on. One practical way to manage this is get a tax accountant. Not the store front folks that do their version of Turbo Tax. A true tax accountant. If you are in pretty deep, get a tax lawyer. It will cost more, but they may better understand the implications of any decisions.

At the end of it all. How many deductions you want to claim and how much time you want to spend matters between doing it your self and hiring someone. Some deductions are easy. Standard deductions for dependents. Any of your bank stuff, dividends, schedule A &B, etc. Once your get into stock portfolio basis costs, child care, real estate or farm estate, schedule H&K, etc. it gets more complicated. The tax books aren't even as easy to read.

if it's fines you are dealing with pay them. You can claim them back later if you can show you don't owe. It's a better way to go than to be delinquent.

FWIW, we paid 2017 taxes late in the tax year. But, in 2017 we got audited on 2016. Go figure, 2016 is done, I'm worried about '17 but '16 end up being the issue. The price of being in the 1/2 of the population that makes enough to pay taxes.

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post #3 of 24 (permalink) Old Jan 18th, 19, 4:48 AM
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Re: Anyone IRS savy?

i thought this thread was going to be about independent rear suspensions..........

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post #4 of 24 (permalink) Old Jan 18th, 19, 5:47 AM
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Re: Anyone IRS savy?

Find a tax advocate in your state, they will deal with the IRS directly on your behalf. Free of charge. Local H&R Block provided info.
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post #5 of 24 (permalink) Old Jan 18th, 19, 7:11 AM
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Re: Anyone IRS savy?

Quote:
Originally Posted by cheveslakr View Post
Should I just feel I've done everything possible and ignore the new bill?.
I did that once a long time ago, and they came unannounced and cleaned out my bank account.

Take Mr 4 speed's advice and hire someone to squash it before it gets out of hand.

Once you get in the IRS's crosshairs, they won't let it go.

If there is money owed, an experienced tax guy will negotiate down in your behalf, and eliminate penalties and interest.
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post #6 of 24 (permalink) Old Jan 18th, 19, 12:19 PM
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They’re all furloughed...so that should buy some time until the stand-off is over
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post #7 of 24 (permalink) Old Jan 18th, 19, 2:27 PM
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Re: Anyone IRS savy?

I am very SAVY of the I.R.S. and some things that they do. After get a letter of " Final notice before seizure ", I went to my friend. Long story short my friend told me what to do and how to do it.
I came out smelling like a rose. Since that time I use a " Tax Accountant ".
WHY? This is his job, He does it everyday and is informed on ALL the new TAX LAWS & loop/holes and the " Dos & Donts.............Best money you will ever spend !
Bob
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post #8 of 24 (permalink) Old Jan 18th, 19, 2:56 PM
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Re: Anyone IRS savy?

Best thing I ever did was find a kickazz accountant and give him Power of Attorney over all that.

I learned the hard way trying to do it all myself.
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post #9 of 24 (permalink) Old Jan 18th, 19, 4:01 PM
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Re: Anyone IRS savy?

used to have a dad on my kids softball team that was a acct. one tip he told us is to always file a paper return. this was over 10 years ago but he said it was proven your chances of being audited was way less because of the hassles for the IRS to manually input everything. jim

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post #10 of 24 (permalink) Old Jan 18th, 19, 4:35 PM
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Re: Anyone IRS savy?

Quote:
Originally Posted by cuisinartvette View Post
Best thing I ever did was find a kickazz accountant and give him Power of Attorney over all that.

I learned the hard way trying to do it all myself.
I'm a CPA and have my own Tax Practice. A good Tax Accountant typically pays for himself...and then some.
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post #11 of 24 (permalink) Old Jan 18th, 19, 4:36 PM
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Re: Anyone IRS savy?

Quote:
Originally Posted by 68malibeast View Post
They’re all furloughed...so that should buy some time until the stand-off is over
Some departments of the IRS are being manned during the shut down...including this one.

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post #12 of 24 (permalink) Old Jan 18th, 19, 4:39 PM
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Re: Anyone IRS savy?

[QUOTE=zeke67;11011354]First thing to do is file an extension. If you owe, rather than getting a refund, you still need to pay an estimate of what you owe. But mainly, it takes you to Oct. 15 to file your taxes. FWIW, my accountant files an extension every year, regardless./QUOTE]

It doesn't work that way. You file an extension for your actual tax RETURN.....not an IRS Notice. You can't extend this IRS notice 'til October 15th like you can your 1040.

'69 Malibu 383/TCI TH350/8.2 3.36 Eaton Posi. Street Edge 10" 2800, E-Tec 170s, Custom Mike Jones HR Cam, RPM Air-Gap, StreetAvenger 770, Pertronix HEI, Hedman 1 5/8" Headers, Moser Axles, PMT 1320R Kit. [email protected] 111 MPH, 1.6865 60 ft, Nitto 555
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post #13 of 24 (permalink) Old Jan 18th, 19, 4:41 PM
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Re: Anyone IRS savy?

Quote:
Originally Posted by cheveslakr View Post
I think these guys hate me. Been issued 3 IRS adjustments in the last 2 years. First 2 were found to be the gov's fault or miscalculations, the third is also, but it's yet to be resolved. Even though I've sent them everything they needed to prove my calcs are correct, they keep sending me bills and threatening fines and of course interest. Every "bill" is just another copy of the last without any human response to the facts I've provided. Also, anytime I've called them it wastes well over an hour of my time. Last time they simply mailed me a bill and stated it's due to my calcs being incorrect, that's it. I called and asked what specifically the issue was, and the lady said she wasn't going to go over ever line item of my return....WTF! How was I to know what to correct?? She huffed and returned back 5 minutes later to tell me what it was. I responded verbally AND in writing to explain and provide receipts of valid deductions. Not sure what to do because of the gov. shutdown. Should I just feel I've done everything possible and ignore the new bill? It's not a ton of money this time, basically the price of a roller cam but anytime I get a bill from these guys it causes stress.
Did you prepare the return yourself or have a professional do so?

Please feel free to PM if you like. Everything we discuss will be kept confidential. However, in order to resolve this, you'll have to hand over a copy of the return in question to someone like myself.
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post #14 of 24 (permalink) Old Jan 18th, 19, 5:56 PM
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Re: Anyone IRS savy?

FWIW - I work a regular job like most people, get paid every couple weeks like most people. I don't make a bunch of money, or even take crazy deductions. I learned in the late 70's or early 80's to just have a real tax accountant or CPA to do your taxes and not HR-Block or someone like that.

A tax preparer made a mistake when I sold one house and bought another. He said I couldn't deduct for improvements I made to sell my house. I went to a CPA the following year because I did quite a bit of side work and wanted to take some additional deductions. So, I gave him the previous years returns and just about the first thing he asked me about it was if I made any improvements prior to selling. I told him I did and I filed an amended return, got back about 2K and have used a CPA ever since. While it is a bit more (but not much), it is always worth it in the end...

Just my .02....grr
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post #15 of 24 (permalink) Old Jan 18th, 19, 6:53 PM
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Re: Anyone IRS savy?

There are plenty of people that have hung out their shingle as tax preparers. Some of those may even be accountants. My advice though is to use a CPA (Certified Public Accountant in the US) [CA or Chartered Accountant in Canada and some other English speaking parts of the world] if you have any type of complexity in your returns. CPAs, as professionals, have higher standards and likely to be more knowlegeable and resourceful. You are taking a chance of using someone that is marginally qualified for your needs otherwise.

PS CPAs perform more services than just tax returns.

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